Financial Expert Arrested In Insider trading Probe

Published by: Kelly Curtis on 24th Nov 2010 | View all blogs by Kelly Curtis
Financial Expert Arrested In Insider trading Probe

CNBC reported Wednesday morning that Don Chu, an Asia “specialist” with Primary Global Research, has been arrested in the government's multi-pronged investigation into insider trading.

The network said that Chu was arrested because in 2008, Chu conspired to promote the firm's consultation services by arranging for insiders at publicly-traded companies to provide nonpublic information to the firm's hedge fund clients for the purpose of executing profitable securities transactions.

The report also said that the reason Chu was arrested this morning is because he was scheduled to leave for Taiwan on November 28th.  The companies that Chu allegedly gave insider information about include Atheros Communications, Broadcom Corp., and Sierra Wireless.  Which hedge fund he provided the information for is not quite clear yet.

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